“Good Salary” is a very subjective term and its definition varies from place to place, job to job and from one person to another. An annual salary of $50,000 may be above average at one place and it may be below the poverty line in the other place. However, a good salary, in general, refers to a decent lifestyle and the high happiness quotient of the employee.
In Canada, there are approximately thirteen different job segments, dissected on the basis of location, culture and/or the cost of living. The salary offered to an employee depends upon his/her educational qualifications, prior work experience, job profile, work location, industry, age, etc. In a few cases, it also changes depending upon the college or university of degree, previous achievements at work and the aspiring candidate’s social and professional network.
As per the recent reports of the World Cost of Living spreadsheet, CAD 3,700 is the average monthly salary of a Canadian. Thus, the average good salary in Canada is USD 32,640 per year that is roughly USD 17 per hour. The beginners may just be earning half of the average Canadian salary but for the experienced staff, their salaries may get hiked of over three times the average.
To clear the facts, the salary for a fresher begins at USD 23,400 per year and goes up to USD 62,985 per year for experienced employees. It is essential for the recent college pass outs or less experienced employees to gain a job and begin working. After some good work experience, they can expect better salaries and then sky is the limit.
According to records, “Specialist Physician” is the highest paid profession in Canada. They earn around USD 85 per hour which means USD 183,600 per year for a 40-hour work week. On the other hand, the least paid jobs fetch a salary of USD 27,000 for a full-time work schedule.
Following are some of the highest paid jobs in Canada right now : (Figures for average annual salaries)
- Specialist physicians – $183,600
- Dentist – $149,760
- Engineers – $130,520
- Professors or lecturers in University – $120,848
- Managers in public admin – $117,000
- Geoscientists and oceanographers – $115,440
- Government officials – $115,336
- Police officers – $112,944
If we look at the scenario geographically, Canada is a huge country and can be viewed as separate provinces which further has rural and urban areas. The “salary” to the “quality of life” ratio depends majorly on the area of work, the area of residence and also the family size.
For someone making more than the Canadian national average and living in cities other than Toronto, Montreal, and Vancouver, they shall be able to enjoy a decent lifestyle. However, for someone earning just the average and residing in the posh areas of Canada, life is definitely going to be a struggle. In the less developed provinces in the North or far East of Canada, a per annum salary of USD 50,000 shall be good for a small family. Moving towards the West, USD 80,000 shall be needed for a one-child family’s annual sustenance.
Following is a list of the average per annum earrings for various provinces of Canada :
- Alberta – $59,384
- New Foundland and Labrador – $53,820
- Saskatchewan – $52,728
- Ontario – $52,260
- British Columbia – $49,244
- Manitoba – $47,632
- Quebec – $47,320
- New Brunswick – $46,644
- Nova Scotia – $45,292
- Prince Edward Island – $42,380
The above statistics are true and reliable, but a good salary depends on a large number of factors.
Let us have a look at a few major ones below :
- Housing : Accommodation prices and sales tax are different in different Provinces of Canada and this undoubtedly is a prominent factor. For instance, in Alberta, the sales tax is 5% while in Nova Scotia it is 14%
- Lifestyle: A lavish lifestyle comes at an additional cost as compared to a comfortable lifestyle. A good salary is sufficient for a comfortable lifestyle but a higher salary is needed to enjoy a lavish lifestyle and fulfill the dreams.
- Taxes: Not only income but income tax percentage is also different in the various different Canadian Provinces. This can be a major deciding factor for your location and your lifestyle.
The above list is not an exhaustive list and there are many other factors that as well. On an average, an individual can survive with an annual income of USD 40,000 in Canada. These statistics may increase with the employee’s goals and aspirations.
With Canada being one of the most sought-after countries for immigration, irrespective of all parameters like your academic profile, work experience or your lifestyle, you are sure to enjoy a better lifestyle in Canada than in your own home country. At Round World Immigration, we have been fulfilling the Canadian Permanent Residency dreams of many aspirants. For any assistance in Migrating to Canada for education or work, please fill the free assessment form on our website and our experienced staff will guide you for the best!